Dec 26, 2010
Many times I have professed to hate economics. Part of the reason for that is that I don’t understand how it works and I am beginning to suspect that the trouble is not so much that I don’t have a head for figures as much as the whole blasted system defies reason!
Although I have not made peace with it, the fact of the matter is that it is really impossible to separate economics from any other issue that matters and all of the problems that concern me most deal with the present full-steam-ahead re-ordering of our society in ways that I fear will not respect the fundamental rights of all.
This article by Vicky Davis and the research she lays out combines history, political theory and economics in a way that is digestible and illuminating for someone like me who usually won’t go more than a paragraph into material heavily slanted toward the economic. As we have been told a million times before,
“Money is the root of all evil”. As noted by my friends and an important qualifier- It is the LOVE of money that is the root of all evil. Also, here is another couple of suggestions for the economically disinclined like myself that might be helpful.
**Doc Ellis recommends:
Economics in One Lesson by Hazlitt at
can help you a lot. This quote summarises the 190+ page book.
“From this aspect, therefore, the whole of economics can be reduced to a single lesson, and that lesson can be reduced to a single sentence:
The art of economics consists in looking not merely at the immediate but at the longer effect of any act of policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.”
This article brings that fact into focus.
(This is one of many great articles by Vicky Davis. Her ceaseless and valuable research digs into the hows and whys of the changes this generation of Americans is witnessing. You can access more of her work at Channeling Reality)
The 1960’s is known as the era of the Great Society. The Great Society was a massive program of social engineering and redistribution of wealth proudly brought to us by the Democrats. The 1990’s will become known as the era of the Great Swindle. I’d like to say that Great Swindle was brought to us by a single party because then we could throw out the scoundrels, dismantle the programs and carry on life in the American tradition. But I can’t. The Great Swindle was a collective effort by both parties and now we are being asked to bail out the financiers and the central planners of the swindle.
The name of the con game for the Great Swindle is ‘globalization’. As with all con games, greed is what blinds the mark from seeing the con. The set up for the con was a Hollywood vision of the ‘New Economy in the 21st Century‘. What a marvelous vision it was:
- A new economy where people don’t go their jobs – they become entrepreneurs and their jobs come to them – via the Internet. All one needed to do was to join a supply chain and to sell or provide services to the billions of buyers that would become accessible via the Internet.
- Because the economy was to be net-centric with people working out of their homes, we didn’t need energy as we did for that dirty, old industrial economy. We could become self-sufficient in energy production with windmills and solar panels – all so very clean and 21st century. Remember the Jetson’s? In this 21st century vision, we could even have a doctor’s visit via the Internet.
- And there would be no need for money – we could just walk into stores and walk out with what we want because the chips in our arms and on the goods could automatically record the purchases and debit our virtual bank account. No need to handle that dirty money – it’s all so clean.
- The new 21st century net-centric economy meant redesigning cities. The idea for cities was to create “communities” – small town environments with neighbor helping neighbor; sharing and caring. The social engineers figured that life for a net-worker would be a lonely life so they planned communities to have a social aspect to them.
- The new 21st century net-centric economy also meant redesigning transportation systems to deliver the goods that originate from all over the world – right to the doorstep of the community. Transportation hubs accommodating all modes of transportation were designed to speed those goods to market.
The basis for the 21st century delusion of the New Economy was that multinational corporations could become emissaries for U.S. foreign policy and that business – money – could be the guiding light for world peace. It’s laughable but that’s what brought us to this critical juncture. And this plan was formulated by the allegedly best and brightest minds in America – and now they are asking us to turn over a $700 billion blank check to one of their leaders – Henry Paulson, former chairman of Goldman Sachs. They need the $700 billion to keep the con going because there is still a sizable middle class in America that has yet to be fleeced.
The $700 Billion Takeover
First of all, we don’t have $700 billion. It’s just more red ink added to the sea of red ink on the U.S. ledgers so what we should really be looking at is the power that would be given over to the Secretary of the Treasury – no matter who that person might be. As you’ll see below, the sub-prime mortgage problem was engineered. People who lend money for a living don’t just all of a sudden get stupid about loaning it. Do you loan money to your bum brother-in-law who hasn’t held an honest job in his entire life? No. And neither do bankers.
A year ago at Georgetown University – the center cell of Communitarianism – which is newspeak for Communism, Treasury Secretary Paulson participated in a conference with the financial movers and shakers regarding U.S. competitiveness in the global economy. The focus of the conference was to talk about a speech that Secretary Paulson had given to the New York Economic Club months earlier. Notice how he speaks in glowing terms about the U.S. financial markets – and it’s not as if he didn’t know what was going on with the derivatives, hedge funds and sub prime mortgages. After all, he was the CEO of Goldman Sachs.
It’s important to look at this speech because this is the real thinking and objectives behind the $700 billion bailout scam.
[Paulson - November 20, 2006] We are experiencing sustained growth and low unemployment. The economy has added more than 6.8 million new jobs since August 2003. Productivity, an indicator of future growth, has grown at an annual rate of 3 percent since the first quarter of 2001. And, very importantly, this productivity is now translating into higher wages, so more Americans are sharing in our economic success. The U.S. economy is the envy of the world, and we must keep it that way.
Capital markets are the lifeblood of our economy. They connect those who need capital with those who invest or lend capital. They play a vital role in helping entrepreneurs implement new ideas and businesses expand operations, creating new jobs. They give our citizens the confidence to invest, earn higher returns on their savings, and reduce the cost of borrowing for student loans, mortgages, and consumer credit.
The Treasury Department plans to host a Conference on Capital Markets and Economic Competitiveness early next year. We will invite participants with a wide range of perspectives, particularly the investor perspective. The Conference will cover the three primary areas I have discussed today – our regulatory structure, our accounting system, and our legal system – all of which impact our capital markets and are critical to the overall economic competitiveness of our nation. Our objective will be to stimulate bipartisan discussion and to lay the groundwork for a long-term strategic examination of these issues.”
Then Paulson discusses the regulatory structure, accounting and legal system. It’s in this discussion that you can know what Paulson is really proposing in this sham bailout.
Also recommended by Vicky Davis;